Blacklisted people
The UK government broadened sanctions to target individuals who are perceived as acting against Ukraine’s territorial integrity, sovereignty, or independence. The measures specifically named Oleg Tinkov, founder of Tinkoff Bank, and German Gref, head of Sberbank, among others. (UK government)
Additional officials and envoys received sanctions, including Yury Trutnev, Deputy Prime Minister and presidential envoy for the Far Eastern Federal District, and leaders in the Northwest, Urals, Volga, and Siberia federal districts such as Alexander Gutsan, Vladimir Yakushev, Igor Komarov, and Anatoly Seryshev. (UK government)
Among those listed is Polina Kovaleva, a Russian citizen residing in London, who the British authorities described as having connections that warranted scrutiny by law enforcement and policy bodies. British officials stated there was enough reason to suspect Kovaleva’s ties to the Russian Foreign Minister Sergei Lavrov. TASS notes that the British Foreign Office is pursuing information related to Lavrov’s stepdaughter. Britain formally accepted sanctions against Lavrov on 11 March. (UK government)
Sanctions also extended to several established and relevant persons. Included were the Ukrainian Melitopol Mayor Galina Danilchenko, General Dmitry Bulgakov, Deputy Minister of Defense of the Russian Federation, and businessman Yevgeny Shvidler. (UK government)
Blacklisted banks
New British measures named Gazprombank, Rosselkhozbank, Alfa-Bank, SMP Bank, and the Ural Bank for Reconstruction and Development. (UK government)
Rosselkhozbank asserted that the sanctions would not disrupt its operations within Russia, noting that its activities are concentrated domestically and that it has no UK presence. The bank’s leadership argued the restrictions have no impact on its domestic work. (Company statement, attributed) The bank emphasized continuity of service for Russian customers and reiterated that UK-linked restrictions do not pertain to its Russian operations. (UK government)
Alfa-Bank stated that everyday banking would continue overall, though transfers to the UK would be temporarily paused. Clients were assured that domestic purchases with Visa, Mastercard, and Mir would proceed as normal, with payments processing speed and reliability maintained. The temporary constraint applied to agreements with UK counterparties. (Company statement, attributed)
Alfa-Bank continued to process ruble and international payments around the clock, preserving the flow of currency and ensuring uninterrupted access for customers outside the UK. Currency conversions for all international operations remained active except for conversions involving British pounds. (Company statement, attributed)
Gazprombank reiterated that the new sanctions would not derail its duties to customers, promising full compliance with obligations and ongoing access to funds and services for all individuals and entities. At the same time, it suspended payment transactions with British counterparties to safeguard customer assets. (Company statement, attributed)
Tinkoff disclosed that the inclusion of Oleg Tinkov on the sanctions list affected him only as a private individual and not in his capacity as founder or shareholder of Tinkoff Group or Tinkoff Bank. The bank emphasized that sanctioned actions do not impede the group’s ongoing operations. (Company statement, attributed)
Blacklisted companies
The sanctions extended to a broad group of strategic enterprises, including Russian Railways, the Sovcomflot shipping conglomerate, RusHydro, the ALROSA diamond mining group, the Salavat Chemical Plant, and the Russian export credit and investment insurance agency. The sanctions also targeted entities within the broader Russian military-industrial complex and electronics manufacturing sectors. (UK government)
Restrictions were also extended to the PMC Wagner private military company. British Prime Minister Boris Johnson had previously signaled that Wagner would be subject to sanctions to intensify pressure on Russia. (UK government)